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Sticks to 2024 oil demand growth forecast of 2.25 mbpd OPEC Feb output rises 203,000 bpd despite new OPEC+ cuts IEA to publish updated forecasts on Thursday OPEC, IEA at most divided on oil demand since at least 2008 LONDON, March 12 (Reuters) – OPEC on Tuesday stuck to its forecast for relatively strong growth …
OPEC Sticks to Oil Demand View, Nudges Up Economic Growth Read More »
Reuters (Reuters) – Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show. Nord Stream AG names Lloyd’s Insurance Company and Arch Insurance (EU) DAC as defendants in its lawsuit, which was filed at London’s High …
Nord Stream Sues Insurers in London Over 2022 Pipeline Blasts Read More »
Shell will publish an updated plan for emissions on Thursday CEO Sawan is focused on boosting returns for shareholders Shell initiated its plan to become a net-zero company in 2020 under previous CEO Ben van Beurden. Shell Plc has been considering slowing the pace of its carbon-emissions cuts as it updates its energy-transition strategy, according to …
Shell Considers Slowing Its Carbon Emissions Cuts Read More »
The differential of Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Tuesday. * WCS for April delivery in Hardisty, Alberta began and ended the trading session at $15.10 per barrel under WTI, according to brokerage CalRock. On Monday, WCS had traded between $15.15 and $15.30 …
The United States is trying to help India negotiate lower prices for Russian oil as it deepens sanctions on tankers carrying the petroleum above Western price caps, President Joe Biden’s energy envoy said on Tuesday. Washington imposed sanctions late last month on Russia’s leading tanker group Sovcomflot on the two-year anniversary of Moscow’s full scale …
U.S. Trying to Help India Get Lower Prices for Russian Oil, Biden Envoy Says Read More »
(Reuters) – Britain is proposing to build new gas plants to improve energy security and risks facing blackouts without them, the government said on Tuesday. As part of efforts to meet climate targets and boost energy security, Britain is seeking to increase its nuclear and wind power capacity but said new gas plants will also …
Britain Says New Gas Plants Needed to Keep the Lights On Read More »
Summary Reuters analysed 16 years of monthly reports Gap between the two represents 1% world demand Analyst consensus closer to IEA But analysts agree with OPEC peak demand far off LONDON, March 11 (Reuters) – Producer group OPEC and the International Energy Agency, the world’s most closely watched forecasters of oil demand growth, are further …
OPEC, IEA at Most Divided on Oil Demand Since at Least 2008 Read More »
(Reuters) – Shell’s veteran head of liquefied natural gas (LNG), natural gas and power trading Steve Hill is leaving the company, Shell said on Monday. Hill chose to leave, Shell said, adding he would hand over his responsibilities and his successor would be announced in the coming weeks. He will step down on March 28. Hill …
Shell’s LNG, Gas and Power Trading Boss Hill to Move On Read More »
Summary Profit drops by nearly a quarter Base dividend up 4% year on year Capex seen at $48-58 bln in 2024 Share sale is govt decision – CFO DUBAI, March 10 (Reuters) – Saudi Arabia’s state-owned oil giant Aramco boosted its dividend despite net profit falling 24.7% to $121.3 billion in 2023 on lower oil prices …
Aramco Hikes Dividend 30% to $98 Billion Despite Drop in Profit Read More »
(Reuters) – European Union countries agreed on Thursday to jointly quit an international energy treaty over concerns that it undermines efforts to fight climate change, officials said. The 1998 Energy Charter Treaty, which allows energy companies to sue governments over policies that damage their investments, has in recent years been used to challenge moves that …
EU Countries to Exit Energy Treaty Over Climate Concerns Read More »
